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With the latest windows 8.1 it is now possible to enable the ReFS file system on your volumes. ReFS has a some notable benefits over NTFS including its ability to “self heal” however there are currently a few limitations. For more information regarding ReFS and whether its right for you check HERE

To enable ReFS on windows 8.1 its a simple as createing a DWORD registry key at:
HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\MiniNT
with the name :
AllowRefsFormatOverNonmirrorVolume
and the value :
1

Here is an export for those who rather the easy route :
Windows Registry Editor Version 5.00
[HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\MiniNT]
“AllowRefsFormatOverNonmirrorVolume”=dword:00000001

After adding this key the formatting option ReFS will become available across windows (may require a restart)